Display Industry Facing 'Triple Crisis', Large and Small-Medium Enterprises Pledge Win-Win Cooperation... Council Launched

[Asia Economy Reporter Kim Bo-kyung] A win-win consultative body involving more than 30 large and small display companies was launched on the 5th. Medium-sized and small companies will develop core equipment such as lithography machines that rely on overseas imports, while Samsung and LG Display will support performance evaluation and commercialization.

The Ministry of Trade, Industry and Energy announced that it launched the 'Display Industry Solidarity and Cooperation Consultative Body' for win-win cooperation between material, parts, and equipment companies and panel companies at the Sheraton Seoul Palace Gangnam Hotel on the same day.

The joint public-private 'Semiconductor and Display Win-win Development Committee' formed in February 2018 was separated into semiconductor and display sectors, respectively, and expanded and reorganized with the participation of more than 30 display companies.

At this event, two panel companies including Samsung Display and LG Display, and six material, parts, and equipment companies such as SFA and Duksan Neolux participated as representatives. The Korea Display Industry Association will support the operation of the consultative body in the future.

Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy emphasized in his opening remarks, "The display industry is facing a difficult environment of triple hardships including competition from rival countries, Japan's export restrictions, and the global impact of COVID-19," adding, "Only solidarity and cooperation among companies will be a solid foundation to maintain global No. 1 competitiveness."

The Display Industry Association announced that it will propose and promote four models for future solidarity and cooperation: ▲ development of core equipment such as lithography machines and ion implanters ▲ win-win business restructuring among large, medium, and small enterprises ▲ performance evaluation and commercialization support for materials, parts, and equipment ▲ utilization of retired personnel through industry-academia-research solidarity.

In particular, lithography machines and ion implanters are equipment entirely dependent on overseas imports, and domestic medium-sized and small equipment companies will newly challenge this. Samsung Display and LG Display will jointly participate as demand companies to support performance evaluation and commercialization.

Following the launch ceremony of the consultative body on the same day, the Display Industry Association and the Korean Information Display Society hosted the '11th Display Day' commemorative ceremony.

Awards were given to 32 display industry contributors who contributed to the commercialization of innovative display technologies and products or to sales and export expansion through localization of materials, parts, and equipment.

The highest honor, the Silver Tower Industrial Medal, was awarded to Kim Min-ho, chairman of Narae Nanotech, who developed rollable display polyimide substrate equipment and contributed to Korea's world-first launch of a rollable TV last year.

Minister Sung stated, "We will actively support the development of ultra-gap innovation technologies and innovative products that no one can surpass, and strengthen solidarity and cooperation between materials, parts, and equipment companies and panel companies to build a robust display industry ecosystem."

He added, "Through LCD restructuring amid oversupply, we will strengthen business restructuring support measures such as tax, funding, and dedicated R&D support so that next-generation companies can smoothly land in the market."

This content was produced with the assistance of AI translation services.